Bitcoin/Ethereum/Litecoin

[SlumTodd_Millionaire]

The genius of bitcoin is that's probably impossible.
It's real feature is that governments cannot regulate it. Outside the black market though, I'm not sure there is much need for that.

Anything can be regulated. Enforcement may be more difficult, but it can still be outlawed.

 

[milleR]

Make as much fun of it as you want, but if I'd bought some of this stuff a year ago I'd pretty damned stoked today.

 

[wheelsup]

So while blockchain has real value and uses as a technology, it has nothing to do with the value of bitcoin. Bitcoin falling to $0 or rising to 10k tomorrow has no meaning to the technology.
I'm not sure if people are too stupid to realize this and think that bitcoin (as if it were a company) owns that tech or what. I just don't see where the value in it is. Unless the black market is really that strong and in need of usable currency. I mean, it has very real use there.

https://en.m.wikipedia.org/wiki/Tulip_mania

 

[SlumTodd_Millionaire]

Make as much fun of it as you want, but if I'd bought some of this stuff a year ago I'd pretty damned stoked today.

If you'd bought some Pets.com in 1999 you'd have been pretty damn stoked in 2000...only to be flat broke in 2001.

 

[milleR]

If you'd bought some Pets.com in 1999 you'd have been pretty damn stoked in 2000...only to be flat broke in 2001.

Pigs get fat, hogs get slaughtered. I'm pretty happy doubling my money ... this would have been sold a long time ago if it were in my portfolio.

 

[bimmerphile]

Anything can be regulated. Enforcement may be more difficult, but it can still be outlawed.

True!
It's in a weird spot. I'm not expecting it to replace the US dollar as the world's currency like some bitcoin enthusiasts. But there's definitely a market for those that want to transfer money quickly to anywhere in the world for low fees. I think it's probably more of a threat to Western Union than the Federal Reserve, although it'll have to stabilize for a while before people can wrap their heads around actually using it.

Sent from my SM-G900V using Tapatalk

 

[wheelsup]

I just can't wrap my head around how you can have a universal currency that continues to flucate rapidly in value by large amounts. I guess I'm just stupid for not understanding but why would you ever part with the currency when it is appreciating in value so rapidly?

If bitcoin was pegged to a currency or a basket of currencies I could see it being adopted more, I mean wouldn't want a currency that can be used to buy anything anywhere at any time with a stable value?

Oh wait, we already have that. It's called the US dollar.

 

[bimmerphile]

I just can't wrap my head around how you can have a universal currency that continues to flucate rapidly in value by large amounts. I guess I'm just stupid for not understanding but why would you ever part with the currency when it is appreciating in value so rapidly?

If bitcoin was pegged to a currency or a basket of currencies I could see it being adopted more, I mean wouldn't want a currency that can be used to buy anything anywhere at any time with a stable value?

Oh wait, we already have that. It's called the US dollar.

What's the point of establishing non-fiat currency if you peg it to fiat currency? You're still thinking of it in the mindset that it's an investment vehicle.
I'm not entirely sure if the value will ever be completely stable. It's not like the dollar, where a few bankers can meet and decide to fiddle with the money supply. BTC finite, which is very different from most fiat currencies around the world.*

*I'm not an economist, I just throw the gear and count static wicks

 

[wheelsup]

Bitcoin is a fiat currency as well it has no tangible source of value.

Just because something is of limited supply doesn't make it valuable. There must be demand for it as well.

There is credible evidence that N Korea is using it to avoid sanctions as well as narco traffickers using it to launder and transfer money.

What's the point of establishing non-fiat currency if you peg it to fiat currency? You're still thinking of it in the mindset that it's an investment vehicle.
I'm not entirely sure if the value will ever be completely stable. It's not like the dollar, where a few bankers can meet and decide to fiddle with the money supply. BTC finite, which is very different from most fiat currencies around the world.*

*I'm not an economist, I just throw the gear and count static wicks

 

[RetiredATLATC]

If you'd bought some Pets.com in 1999 you'd have been pretty damn stoked in 2000...only to be flat broke in 2001.

I'm into Webvan

 

[mrivc211]

If you'd bought some Pets.com in 1999 you'd have been pretty damn stoked in 2000...only to be flat broke in 2001.

Thats where pilots are idiots Todd. We all think long term. Where as the smart ones get in, make a quick buck, get out. This stuff is all speculation and gambling. Ain't nothing long term about it.

 

[SlumTodd_Millionaire]

Thats where pilots are idiots Todd. We all think long term. Where as the smart ones get in, make a quick buck, get out. This stuff is all speculation and gambling. Ain't nothing long term about it.

Uh, no. The smart ones think long term. People who think short term get burned. Bad. It's just a matter of time.

 

[mrivc211]

Uh, no. The smart ones think long term. People who think short term get burned. Bad. It's just a matter of time.

Aaaaaaaaaaaaand the contrarian is alive and well folks.

 

[SlumTodd_Millionaire]

The ultimate contrarian:

 

[mrivc211]

Todd,

you've been a contrarian so long I bet you have a stupid come back for every argument you'll ever have. Thats a life long commitment of disagreeing. Congrats man. so much happiness

 

[Cessnaflyer]

Thats where pilots are idiots Todd. We all think long term. Where as the smart ones get in, make a quick buck, get out. This stuff is all speculation and gambling. Ain't nothing long term about it.

Well I would’ve wanted to be holding the bag from the start long term because I would have a metric crap ton of cash now.

 

[Rodger Wilco]

OK, Im going to stir the pot here, please don't hate, its just for fun.
Isn't it true that the first people to use bitcoin were doing so to pay for illegal black market goods, arms dealing, and human trafficking?
And if they are the initial "investors" don't they gain the most from my further inflation of the currency if/when I buy.
So if I buy Bitcoin am I not just making these scum bags more wealthy?

 

[Dugie8]

I think the first bitcoin transaction was to pay for a pizza.


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[Cessnaflyer]

OK, Im going to stir the pot here, please don't hate, its just for fun.
Isn't it true that the first people to use bitcoin were doing so to pay for illegal black market goods, arms dealing, and human trafficking?
And if they are the initial "investors" don't they gain the most from my further inflation of the currency if/when I buy.
So if I buy Bitcoin am I not just making these scum bags more wealthy?

Throw away your dolla bills than too.

 

[Rodger Wilco]

Throw away your dolla bills than too.

And the internet because it was built by the porn industry.